Trésorier/Treasurer magazine - N°85 - April/May/June 2014 - (Page 64)

15 MINUTES WITH... ONLINE FR/EN VERSION LCTE Luxembourg Corporate Treasury Expertise - Is Luxembourg a good location for a corporate treasury center? LE MAGAZINE DU TRESORIER / TREASURER MAGAZINE - N°85 - APR / MAY / JUN 2014 FM : There is no doubt that over the years, for many reasons, Luxembourg has become a top location for the treasury and central financing functions of many multinational groups. The attraction of Luxembourg's financial centre is undeniable, and it has achieved real success. ATEL («Association des Trésoriers d'Entreprise du Luxembourg - Luxembourg Treasury Association», founded in 1994) nevertheless believes that the Grand Duchy holds the keys to the potential for even greater attractiveness, in spite of the current global economic climate. 64 LCTE LUXEMBOURG OR : For that reason, and because international companies are ever more frequently showing an interest in Luxembourg when looking for a local presence, ATEL's Board has set up a special internal unit to undertake this task: the LCTE «Luxembourg Corporate Treasury Expertise» unit. LCTE is a brand name for promoting the treasury industry, officially launched in March 2013 in partnership with the Ministry of Foreign Trade. It is an innovative concept for promoting professional treasury expertise in Luxembourg. - What are the main purposes of this new concept of LCTE? FM : The main purpose of our working group is to bring all the local players on board and also to coordinate initiatives and actions between the various stakeholders, both local and foreign, to «sell» the Grand Duchy of Luxembourg as an ideal location for a European treasury centre. ATEL also wants to raise the LCTE working group's status to that of «think tank», with the aim of boosting Luxembourg's attractiveness as far as possible. With this in mind, ATEL plans to give priority to professional training (one of its main tasks) and to providing logistical support to new arrivals together with tailored help and regular follow-up for foreign companies already located here. O.R : Obviously, the existence of a representative, dynamic, cosmopolitan and well-organised treasurers' association contributes indisputable added value when it comes to making choices on where to relocate to or from in the future. Furthermore ATEL, as an incorporated professional organisation, has the advantage of being an independent and not-for-profit organisation. In combination, all these points give ATEL an objectivity and credibility in the eyes of our peers when they come to make their choice of the best geographical location for their European treasury centre. - Is there expertise and skilled staffing in corporate treasury in Luxembourg? F.M : LCTE will therefore establish itself as a unique hallmark of the quality and expertise of local treasurers. It will be made available to international groups who want to settle in the Grand Duchy. Through this brand, ATEL also wants to underline the quality of our finance professionals (in the broad sense of the term) and to develop their skills as far as possible so that they can fully meet the human resources needs of future treasury centres wanting to join us. O.R : By being involved in coordinating many private and public sector initiatives, LCTE is making an absolute commitment to promoting Luxembourg's financial centre as a hub specialising in centralised treasury management. There are many success stories in existence that can bear witness to the many benefits and advantages of locating in Luxembourg. Through the official recognition of quality and expertise in treasury management, corporate finance and risk management, LCTE acts as a real driver for recommendations in legal, tax and other matters, with the purpose of boosting the attractiveness of the Luxembourg financial centre for foreign companies.

Table des matières de la publication Trésorier/Treasurer magazine - N°85 - April/May/June 2014

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Trésorier/Treasurer magazine - N°85 - April/May/June 2014